The Phillip H. Morse Collection of Saint-Gaudens Coinage, the
finest collection of the coinage designed by Augustus Saint-Gaudens
to ever be sold at public auction, will anchor Heritage's November
3rd Platinum Night session in Palm Beach, Florida. In addition, the
finest and rarest coins of our November 2-5 Palm Beach Signature
Auction will be offered on the same night. Just between the
collections of Phillip Morse and Jack Lee, we will be offering more
than $25 million of supremely rare coins.

Mr. Morse's
Ultra High Relief is the most perfect embodiment of Theodore
Roosevelt's charge to Augustus Saint-Gaudens, America's foremost
sculptor, to produce a new coin design worthy of American
aspirations and ideals. This Ultra High Relief was struck seven
times on a medal press in order to fully bring up all the details
in the dies; between strikings, the annealing process heated it to
a cherry-red color and then cooled it in a weak solution of nitric
acid. The result was a surface of nearly pure, glittering gold that
gives Ultra High Reliefs their distinctive appearance. This is the
only PR69 Ultra High Relief Double Eagle in existence.

Mr. Morse's
1927-D Double Eagle is also the finest known example of this
legendary issue. Certified by PCGS as MS67, it is the finest
surviving specimen of the rarest U.S. gold coin of the twentieth
century - which is also the rarest American coin of any
denomination or metal from this century. Fewer than 12 pieces are
known in all grades, and three of those are in the Smithsonian's
National Numismatic Collections.

The
Morse Collection contains several other seven-figure rarities, but
as impressive as the values are, so too is the condition of so many
of his wonderful coins. Quality, rarity, eye-appeal, and pedigree
are the hallmarks of this collection. His 1907 $20 with Small Edge
Lettering, certified as PR68 by PCGS, is technically a pattern, but
unrecognized as such. The Small and Large Edge Arabic Numerals
twenties are experimental coins that were struck in very limited
numbers (only three Small Letters are known). This is the only
Small Edge Letters coin that has been certified in any grade by
either PCGS or NGC.

Mr.
Morse's 1921 Double Eagles are simply astonishing. The 1921 issue
is unequalled as a rarity because 99% of its mintage was melted in
the 1930s. There are probably only 40-60 mint state examples extant
today, and Heritage is offering three of those in our Palm Beach
Platinum Night auction. In addition to his finest known MS66, he
also owns MS65 and MS64 examples.

One of the most interesting
lots in the Morse Collection is not one of his amazing coins, but
an important letter from President Theodore Roosevelt to the Rev.
Roland C. Dryer of Nunda, New York, defending Roosevelt's omission
of the motto IN GOD WE TRUST from the newly minted $10 and $20 gold
coins designed by Augustus Saint-Gaudens. This three-page typed
letter, on White House letterhead, was signed by Theodore Roosevelt
as President, on November 11, 1907. Of course, Congress forced the
issue on March 8, 1908 by passing An Act Providing for the
restoration of the motto, 'In God We Trust' on certain
denominations of the gold and silver coins of the United
States. This is a document of history from the heart of
numismatics.

Of the many remarkable Morgan
Dollars in the current offering of coins from the
Jack Lee Collection in our upcoming
Palm Beach Signature Auction, this single coin is the most
amazing example. It is essentially perfect. The only blemish we can
find, and this requires extremely careful examination, is a tiny
mark between star 11 and the border. Over the years, PCGS has
certified 1.7 million Morgan Silver Dollars in all the different
grades, yet only nine coins have been certified as MS69. These
include six 1880-S Morgans, 2 dated 1881-S,
and this 1896-S dollar. Jack Lee liked this coin so much, he
has included it in all three of his outstanding collections.

Wayne Miller had the following comments about this issue:
"Despite a mintage of five million pieces, the 1896-S is very
scarce in uncirculated condition. Although original rolls of this
date have appeared as recently as 1973, they appear to have been
widely dispersed. Most BU specimens evidence average luster, very
heavy surface abrasions (particularly about Liberty's face), and
much weakness on the high points. The latter does not appear to be
the result of worn dies, but is more probably due to inadequate
striking pressure or improper basining of the dies." Miller
continued, suggesting the Gem Morgan Dollars are among the most
underrated of all dates in the series.

Like certain other issues in the Morgan Dollar series, the
1896-S Dollar is relatively common and easily obtainable in
circulated, well-worn grade, but becomes elusive in Very Fine or
higher grades. The mintage of this issue totaled 5 million coins,
and apparently many of them quickly entered circulation. Bag
quantities of Mint State coins were available and paid out at the
mint as recently as the early 1950s, but no bag quantities were
available later than that time. Apparently very few, if any, were
included in the early 1960s Treasury release. Today, most want
lists of Morgan dollars from all except the most advanced
collectors include this date. It has been called one of the "Most
Wanted" of all Morgan dollar issues.

Miss Anna Willess Williams, whose profile was used for these
coins, has never looked so good. She was certainly a lovely bride,
for 1896 was the year that she was married. An extensive notice was
published in the May 1896 issue of The Numismatist: "The
announcement that the Goddess of Liberty is about to be married has
aroused new interest in the woman whose face is known to more
people than that of any other women of the American continent.
Every man, woman or child who has a silver dollar carries the
handsome profile of the Philadelphia school-teacher, Miss Anna W.
Williams. Her classic features have been stamped upon millions of
silver disks.

"It is twenty years since the pretty blonde girl became
world-famous. It was then stated that Miss Williams' profile was
the original of the Goddess of Liberty on that much abused, much
admired and equally much disliked Bland silver dollar. The friends
of the young woman placed every obstacle in the way of possible
identification, but failed in their object. The story of how Miss
Williams came to be the Goddess of Liberty may be retold, now that
it is said she is soon to become a bride.

"In the early part of 1876 the Treasury Department secured
through communication with the Royal Mint of England. The services
of a clever young designer and engraver named George Morgan. Upon
his arrival in this country Mr. Morgan was installed at the
Philadelphia Mint and was assigned the task of making a design for
the new silver dollar. After many months of labor the young
engraver completed the design for the reverse side of the coin upon
which he represented the American eagle. His attention was then
turned to the other side, and his original inclination was to place
on it a fanciful head representing the Goddess of Liberty. But the
ambitious designer was too much of a realist to be satisfied with a
mere product of fancy. Finally he determined the head should be the
representation of some American girl and forthwith searched for his
beauteous maid.

"It was a long search, although pleasant. He told his friends of
his desires, and one of them spoke of the really classic beauty of
Miss Anna Williams. The English designer was introduced to the
girl. Mr. Morgan was at once impressed with her beautiful face and
studied it carefully. Then he told her what he desired, and she
promptly refused to permit herself to be the subject of the design.
Her friends, however, induced her to pose before an artist. After
five sittings the design was completed.

"Mr. Morgan was so enthusiastic that he declared Miss Williams'
profile was the most nearly perfect he had seen in England or
America. His design for the Bland silver dollar was accepted by
Congress, and so the silver coins have been pouring from the mints
all these years adorned with the stately face of a Quaker City
maiden.

"Miss Williams is a decidedly modest young woman. She resides on
Spring Garden Street, not far from the school in which for years
she has been employed as an instructor in philosophy and methods in
the kindergarten department. She is slightly below the average
height, is rather plump, and is fair. She carries her figure with a
stateliness rarely seen and the pose of the head is exactly as seen
on the silver dollar. The features of Miss Williams are reproduced
as faithfully as in a good photograph."

This coin will be offered as part of our Platinum Night session
on November 3. Bidding is open now at www.HeritageCoins.com!

If you have visited MyBids recently, you may have noticed that
we have added a small but potent new feature. You can now filter
the lots in either current or closed auctions by whether you are
winning/won or losing/lost. This allows you to have more control
during the bidding process to view and bid on just the lots you are
interested in.

Because items other than US coins currently do not fit
especially well into MyCollection, another benefit is that this
feature allows you to view just the lots you have won in closed
auctions, effectively presenting you with a simplified version of
MyCollection, as well as a permanent record of the lots you've won,
complete with images and description.

Luster: The brightness of a coin that results from the
way in which it reflects light. Many different types of luster
exist, and one of the trickiest and most important parts of the
grading process is determining whether the luster of a coin is
artificial (possibly resulting from the coin being whizzed),
natural as made, or diminished through wear, friction, cleaning, or
other factors. Also spelled lustre.

Uniface: Struck on one side only. Medals are often
produced in this manner, with one side left blank for possible
engraving. Bracteate coinage was also struck uniface, as the flans
were too thin to handle designs imparted by two dies

Heritage Galleries & Auctioneers (HG&A) held its most
recent
Comic and Original Comic Art Signature Auction October 14 &
15, in Dallas, Texas. 2,225 total bidders competed for 1,974 lots,
409 of them successfully, for an overall total of $2,447,627,
although after-auction sales are still ongoing and could push the
total even higher.

"This is a wonderful wrap-up to a wonderful year," said Ed
Jaster, Vice-President, HG&A. "Without a doubt, Golden Age key
comics were the focal point of this auction, although we're still
seeing increased interest in Silver Age DCs. Original art, as
always, brought impressive results, with the
Byrne/Austin X-Men #138 cover realizing $37,375, well over its
pre-auction estimate of $25,000. Wally Wood's stunning
Weird Science #14 cover was another standout, fetching
$56,350."

"We're already looking forward to 2006," said Jaster, "and we're
hard at work on our next auction, scheduled for January 20 & 21
in Dallas. If 2006 is even half as exciting as 2005 has been, it's
going to be a great year!"

In a move to help strengthen the coin hobby and increase
membership in America's coin clubs, Heritage has created the Coin
Club Outreach program.

The Coin Club Outreach program features a speaker's bureau to
deliver presentations at coin club meetings, promotional items to
be offered to clubs to help generate revenue and enlist new
members, and access to the Heritage website and mailing list of
over 150,000 active coin and currency enthusiasts. Anyone
interested in scheduling a speaker for a coin club or other
collector group is invited to contact:

1. Which of the following is not a known variety of 1846 Half
Dollar?
Correct Answer: 1846/5 (32%). Three of the varieties are mentioned
in the Red Book. The fourth, the Spiked 4, is mentioned in Breen,
who somewhat enthusiastically called it "Rare". One of these coins
is being offered in the current Palm Beach Signature Auction.

2. What is the date of the coin pictured in the Pan and Zoom
closeup below?
Correct Answer: 1908 (34%). This is the reverse of the Indian Head
Eagle, without the motto "IN GOD WE TRUST", but with the D mintmark
visible in the lower left hand corner.

In 2005, Heritage made numismatic history with our FUN Signature
Auctions, selling over $60 million worth of coins in one week? and
over $30 million in one night.

In 2006, we're out to do even better.

As the traditional opening of the numismatic year, the Florida
United Numismatists annual convention attracts dealers and
collectors from all over the country. Auctions abound. But while
most auctions are held before the convention, only one auction
house holds the official auction of the FUN show: Heritage.

As official auctioneers, Heritage brings your coins to the
biggest variety of dealers and collectors in Orlando for the show.
Not to mention the over 155,000 registered Internet bidders just
waiting for the chance to bid on the right material. Yours.

Take advantage of this unparalleled venue by consigning your
coins and currency today! Get the widest possible exposure, the
biggest selection of bidders, and the best results! Call our
consignment hotline at 1-800-US-COINS, x222, and reserve your spot
in an event that will undoubtedly make numismatic history once
again!

2006 January Orlando, FL (FUN) Signature Auction
Sale on January 3 to January 7, 2006
Consignment Deadline: November 24, 2005

2006 January (CAA) Orlando, FL Signature Auction
Sale on January 6 to January 7, 2006
Consignment Deadline: November 19, 2005

2006 January (HWCA) New York Signature Auction
Sale on January 8 to January 9, 2006
Consignment Deadline: November 18, 2005